AARP Hatchery Ventures Announces Warrants in 5 Age-Tech Companies

WASHINGTON, Oct. 8, 2019 /PRNewswire/ -- AARP Innovation Labs announced today that its Hatchery Ventures program has added five new companies to its startup portfolio: Enwoven, Musical Health Technologies, Pillo Health, Rendever, and XRHealth. Through Hatchery Ventures, AARP engages with age-tech start-ups in the seed to Series A stages with the goal of growing and scaling the best versions of their solutions to address consumers' needs and help people choose how they live as they age.

"These five startups fit with the mission of AARP and the goals of the Hatchery Ventures program to focus on solutions facing people 50-plus, including maintaining health and fostering social connections," said Nigel Smith, director of AARP Hatchery Ventures. "The disruptive innovations that these companies are focused on help people live healthier lives, better manage chronic health conditions, adjust behaviors for long-term resiliency, stay better connected, and live with greater purpose."

The first five AARP Hatchery Ventures program startups focus on digital health and social connections:

• Enwoven is a multi-media documentation tool that effortlessly captures and transforms knowledge and information into insight and narrative.
• Musical Health Technologies created SingFit, a digital health platform that enables healthcare professionals, caregivers and individuals to use music to manage some of the most challenging healthcare conditions, including dementia, depression and chronic breathing disorders.
• Pillo Health has created a secure, data-backed and customizable solution that allows partner organizations to bring their healthcare missions into the home. Using a combination of adaptive AI and thoughtfully designed hardware, their proactive digital health companion called Pillo assists with medication dispensation, knowledge management, caregiver connectivity and more.
• Rendever is overcoming social isolation through the power of virtual reality and shared experiences. From senior living communities to hospitals, their platform is being used to reduce depression and loneliness by fostering personal connections amongst populations where life has become limited.
• XRHealth creates an XR (VR/AR) therapeutic platform combining medical applications with advanced data analytics, providing a comprehensive solution for clinicians and patients.

The AARP Hatchery Ventures program selects age-tech startups that have strong potential to create societal impact in the health, wealth and/or personal fulfillment areas for an ageless consumer and that can grow for sustained consumer impact. To be considered for inclusion each company must have a product in market, generate revenue of less than $10 million and have raised less than $10 million to-date in equity-based funding.

As part of this agreement, AARP will provide essential advisory services including access to staff with human centered design experience and to consumers for qualitative testing. The startups are invited to present to potential investors and business customers at an annual demo day and will receive access to innovation tools and resources. They will also be included in networking opportunities where their solutions will be exposed to influencers who may have an interest in their products.

The AARP Hatchery Ventures program sources start-ups from pitch events across the country and through its accelerator collaborations with MassChallenge HealthTech, MassChallenge FinTech and Upward Labs.

For more information, visit AARPInnovationLabs.org.

About AARP

AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfillment. AARP also produces the nation's largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org or follow @AARP and @AARPadvocates on social media.

SOURCE AARP

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